SPAC Focus Impact Acquisition files for a $250 million IPO, targeting "social-forward companies"

Focus Impact Acquisition, a blank check company led by Wes Moore targeting a high-growth "social-forward" business, filed on Friday with the SEC to raise up to $250 million in an initial public offering.

The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Focus Impact Acquisition would command a market value of $313 million.

Focus Impact Acquisition is led by Chairman Westley Moore, who currently serves as the CEO of Robin Hood Foundation, one of the nation's largest anti-poverty focused charities, and CEO Carl Stanton, former Managing Partner and Head of Private Equity for Invesco Private Capital. The SPAC plans to target high-growth "Social-Forward Companies," which it defines as businesses that are meaningfully aligned with one or more of four UN SDGs: Good Health and Well-being; Quality Education; Decent Work and Economic Growth; and Reduced Inequality.

Focus Impact Acquisition was founded in 2021 and plans to list on the Nasdaq, but has not selected a symbol yet (RC ticker: FIAU.RC). Citi and Goldman Sachs are the joint bookrunners on the deal.